The Best Mortgage Lenders in Augusta, IL
Compare verified mortgage lenders serving Augusta, Illinois. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Augusta
Featured Mortgage Lenders
First Bankers Trust Company
First Bankers Trust Company, N.A.
First Bankers Trust Company is a highly-rated community bank with deep roots in Western Illinois, serving the Augusta area with personalized mortgage services. With over 60 years of banking experience, they offer competitive rates and local decision-making. Their mortgage team provides comprehensive home loan options including government-backed programs and construction loans, with a reputation for exceptional customer service and community involvement throughout the region.
Loan Types:
Town and Country Bank
Town and Country Bank
Town and Country Bank has been serving Illinois communities for over 150 years with a strong presence in central and western Illinois, including the Augusta area. They offer a wide range of mortgage products with competitive rates and personalized service. Their experienced loan officers are known for guiding borrowers through the entire mortgage process, with particular expertise in first-time homebuyer programs and government-backed loans. The bank maintains high customer satisfaction ratings and strong local community ties.
Loan Types:
Mortgage Solutions Financial
Mortgage Solutions Financial
Mortgage Solutions Financial is a highly-rated mortgage brokerage serving Western Illinois, including Augusta, with exceptional customer service and competitive loan options. As a local brokerage, they work with multiple lenders to find the best rates and terms for each borrower's unique situation. Their team of experienced mortgage professionals specializes in all types of home loans and is particularly noted for their responsive communication and smooth closing processes. They have built a strong reputation for making the mortgage experience straightforward and stress-free.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Augusta, IL
What are the current average mortgage rates in Augusta, IL, and how do they compare to state averages?
Mortgage rates in Augusta, IL, typically align closely with national and state averages, but local lenders may offer competitive rates due to the smaller market. As of recent data, 30-year fixed rates in the area often range from 6.5% to 7%, though this can vary based on credit score and loan type. It's wise to compare offers from local credit unions and regional banks in Hancock County for the best terms.
Are there any first-time homebuyer programs specifically available for Augusta, IL residents?
Yes, first-time homebuyers in Augusta can access the Illinois Housing Development Authority (IHDA) programs, such as the 1stHomeIllinois loan, which offers competitive interest rates and down payment assistance. Additionally, local lenders may have partnerships with community programs aimed at supporting buyers in rural areas like Augusta. These programs can help with closing costs and lower the barrier to homeownership.
How does Augusta's rural location impact the mortgage approval process?
Augusta's rural setting may influence mortgage options, as some lenders have specific products for rural homes, like USDA loans, which offer 100% financing for eligible properties and buyers. However, appraisals might take longer due to fewer comparable sales in the area. Working with a lender experienced in rural Illinois markets can streamline the process and ensure you choose the right loan product.
What types of properties in Augusta are eligible for USDA loans, and what are the income limits?
USDA loans are available for single-family homes in Augusta that are located in designated rural areas, which includes most of the town. Income limits for Hancock County are based on household size; for example, a family of 1-4 typically must earn no more than $110,650 annually. These loans are ideal for low- to moderate-income buyers seeking no down payment options in Augusta's affordable housing market.
How do property taxes in Augusta, IL, affect my monthly mortgage payment?
Property taxes in Augusta are relatively moderate compared to urban areas in Illinois, with Hancock County rates averaging around 1.5% to 2% of assessed value. Lenders will include these taxes in your monthly escrow payment, so it's important to factor them into your budget. Since tax rates can vary by specific location within Augusta, consulting a local real estate agent or tax assessor can provide precise figures for your home search.
Why Choose a Mortgage Lender in Augusta?
Local Market Knowledge
Lenders who understand Augusta's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Illinois.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Augusta and get competitive rates on your home loan.